On Monday, the AUD/USD pair experienced a slight rebound toward the 0.6605 area as sellers took profits after Friday’s sharp downward movements.
AUD/USD rebounded on Monday as sellers took a breather. All eyes are now on Wednesday’s session where the US releases inflation figures and the Fed makes its interest rate decision. There won’t be any economic highlights in Monday’s session. This week will be pivotal as the Federal Reserve meets on Wednesday, the same day when the US releases inflation data from May.
How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down.
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